Empowered Funds LLC Buys 1,304 Shares of Commercial Metals (NYSE:CMC)

Empowered Funds LLC grew its stake in Commercial Metals (NYSE:CMC) by 2.6% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 52,364 shares of the basic materials company’s stock after acquiring an additional 1,304 shares during the period. Empowered Funds LLC’s holdings in Commercial Metals were worth $2,597,000 at the end of the most recent reporting period.

Other hedge funds have also added to or reduced their stakes in the company. State Street Corp boosted its stake in shares of Commercial Metals by 0.4% during the third quarter. State Street Corp now owns 5,830,412 shares of the basic materials company’s stock valued at $320,439,000 after purchasing an additional 24,665 shares in the last quarter. Geode Capital Management LLC boosted its stake in shares of Commercial Metals by 1.0% during the third quarter. Geode Capital Management LLC now owns 2,839,601 shares of the basic materials company’s stock valued at $156,093,000 after purchasing an additional 28,019 shares in the last quarter. Victory Capital Management Inc. boosted its stake in shares of Commercial Metals by 1.9% during the third quarter. Victory Capital Management Inc. now owns 2,176,959 shares of the basic materials company’s stock valued at $119,646,000 after purchasing an additional 41,206 shares in the last quarter. Principal Financial Group Inc. boosted its stake in shares of Commercial Metals by 1.1% during the third quarter. Principal Financial Group Inc. now owns 1,714,116 shares of the basic materials company’s stock valued at $94,208,000 after purchasing an additional 17,931 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its stake in shares of Commercial Metals by 1.3% during the third quarter. Charles Schwab Investment Management Inc. now owns 1,462,317 shares of the basic materials company’s stock valued at $80,369,000 after purchasing an additional 18,262 shares in the last quarter. 86.90% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on CMC shares. UBS Group upgraded shares of Commercial Metals from a “sell” rating to a “neutral” rating and dropped their price objective for the company from $56.00 to $54.00 in a research note on Friday, January 10th. BNP Paribas cut shares of Commercial Metals from an “outperform” rating to a “neutral” rating in a research report on Friday, January 3rd. The Goldman Sachs Group initiated coverage on shares of Commercial Metals in a research report on Monday, December 2nd. They set a “buy” rating and a $75.00 target price for the company. BMO Capital Markets decreased their target price on shares of Commercial Metals from $62.00 to $58.00 and set a “market perform” rating for the company in a research report on Friday, January 3rd. Finally, Jefferies Financial Group decreased their target price on shares of Commercial Metals from $65.00 to $62.00 and set a “buy” rating for the company in a research report on Monday, January 6th. Six equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $62.33.

Commercial Metals Trading Up 3.0 %

NYSE CMC opened at $51.55 on Friday. The company has a fifty day simple moving average of $51.23 and a two-hundred day simple moving average of $53.90. The stock has a market cap of $5.86 billion, a P/E ratio of 46.44, a P/E/G ratio of 2.58 and a beta of 1.18. Commercial Metals has a 12-month low of $45.50 and a 12-month high of $64.53. The company has a current ratio of 2.76, a quick ratio of 1.94 and a debt-to-equity ratio of 0.29.

Commercial Metals (NYSE:CMC) last posted its quarterly earnings results on Monday, January 6th. The basic materials company reported $0.78 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.78. The business had revenue of $1.91 billion during the quarter, compared to analysts’ expectations of $1.85 billion. Commercial Metals had a net margin of 1.70% and a return on equity of 9.88%. The business’s quarterly revenue was down 4.7% on a year-over-year basis. During the same quarter last year, the company posted $1.49 earnings per share. On average, analysts forecast that Commercial Metals will post 3.09 earnings per share for the current year.

Commercial Metals Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, January 30th. Stockholders of record on Thursday, January 16th were paid a $0.18 dividend. The ex-dividend date of this dividend was Thursday, January 16th. This represents a $0.72 dividend on an annualized basis and a dividend yield of 1.40%. Commercial Metals’s payout ratio is currently 64.86%.

Commercial Metals Company Profile

Commercial Metals Company manufactures, recycles, and fabricates steel and metal products, and related materials and services in the United States, Poland, China, and internationally. It operates through two segments, North America and Europe. The company processes and sells ferrous and nonferrous scrap metals to steel mills and foundries, aluminum sheet and ingot manufacturers, brass and bronze ingot makers, copper refineries and mills, secondary lead smelters, specialty steel mills, high temperature alloy manufacturers, and other consumers.